GST Council may replace 12% and 18% slabs with 14-15% one: Sushil Modi

At present, around 49 countries use a single GST rate, 28 use two rates and four countries, including India, have more

The Goods and Services Tax Council might replace the 12 per cent and 18 per cent slabs with a 14-15 per cent one, said Bihar Deputy Chief Minister Sushil Modi on Thursday. 

While addressing a seminar on the GST, organised by the Institute of Chartered Accountants of India, Modi said this slab rationalisation was likely to be taken up only after the GST collections have reached Rs 1 trillion. Experts claim this might take nine months to a year to reach this target.

This would reduce the number of GST rates to four. Also, the GST rates of items such